trending Market Intelligence /marketintelligence/en/news-insights/trending/kdO2BVYjU1QzXe6xtl_A1Q2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

Sandfire secures option to earn up to 90% JV stake in Red Mountain project

Mining Exploration Insights December

Mining Exploration Insights: Dip in gold drilling weighs on results

Mining Exploration Insights: Is the exploration sector back on recovery?

State of the Market: Mining Q2-2019

Sandfire secures option to earn up to 90% JV stake in Red Mountain project

White Rock Minerals Ltd. granted Sandfire Resources NL an option to acquire up to a 90% interest in the Red Mountain zinc-silver-lead-gold-copper project in Alaska.

The company can secure an initial 51% by spending A$20 million on exploration over four years, with a minimum A$6 million expenditure in 2019.

It can increase its stake to 70% by spending an additional A$10 million and delivering a pre-feasibility study with an ore reserve within a further two years, according to a March 25 release.

The joint venture will be operated through a U.S.-organized limited liability company, with Sandfire holding a 15% interest and White Rock holding the remaining 85% interest.

If White Rock chooses to not fund its share, Sandfire can take its interest to 80% by sole funding the third expenditure stage, which includes completing a definitive feasibility study.

If White Rock declines contribute to the fourth stage, which includes the start of commercial production, Sandfire can secure an additional 10% interest by sole funding the development.